GameStop to add Bitcoin to treasury following unanimous board approval
GameStop shares jumped over 7% in the after-market following the announcement.
Read digital asset treasury news covering corporate Bitcoin strategies, token reserves, treasury management, and balance sheet adoption.
The company is already a node operator for Bitcoin staking protocol Babylon, with nearly 8 BTC in delegated staking.
The company made a harder push to tie its image to Bitcoin.
After meeting six criteria, companies are usually added to the index within 21 months.
The publicly-traded energy company bought nearly twice its total assets in Bitcoin.
Despite not adding Bitcoin to its treasury for now, the company's board of directors stated that it continues to monitor trends and developments related to this market.
The company allocated over 26% of its market cap in Bitcoin, seeking to boost shares' prices in the long term.